Insurance Products

Director's and Officer's Liability Insurance

Director's and Officer's Liability Insurance provides management liability coverage for Insured Persons and the named Corporation with respect to claims first made against them during the policy period for a Wrongful Act allegedly committed by the Insured Persons in their capacity as such.

Why do I need Director's & Officer's Liability coverage?

• As elected Directors and Officers, you are part of a team responsible for the internal management of your association.
• As such, you may be exposed to personal liability when mismanagement occurs.
• Mismanagement may take the form of breach of fiduciary duty, breach of duty of care, wrongful activities or in situations where statutory liability applies.
• Legal action against you may be initiated by an employee, association member, supplier, creditor, regulatory body or various other third parties.
• Claims may be pursued for situations involving wrongful dismissal, discrimination, misleading reports, failure to deliver services, inefficient administration, libel and slander, conflict of interest, or waste of corporate assets.